Vietnam Pushes Semiconductor Industry
Vietnam has a rapidly developing semiconductor ecosystem and an opportunity to elevate its position in the global supply chain, according to a report from Vietnam Express.
The US and Vietnam acknowledged the latter's significant potential to become a key player in the semiconductor industry and expressed support for the rapid growth of the semiconductor ecosystem in Vietnam.
In their joint announcement about the U.S.-Vietnam Comprehensive Strategic Partnership, the two countries acknowledged Vietnam's significant potential to become a key player in the semiconductor industry and expressed support for the rapid growth of the semiconductor ecosystem in Vietnam.
The announcement also highlighted initiatives aimed at developing human resources in the semiconductor industry, with the U.S. providing an initial seed fund of US$2 million, with further investments expected from the Vietnamese government and the private sector in the future.
These developments are viewed as Vietnam's strategic steps toward entering an industry worth hundreds of billions of dollars, with global implications.
According to data from the U.S. Census Bureau in February, chip imports from Vietnam surged by 75% during the month, reaching $562.5 million compared to $321.7 million in the previous year, capturing an 11.6% market share.